[Funding Alert] Plug and play API security platform Akto bags $4.5 Mn Seed Fund led by Accel

API Development

Plug-and-play API security platform Akto has raised a $4.5M seed funding round led by Accel India with participation from angel investors Akshay Kothari (co-founder and COO of Notion), Renaud Deraison ( co-founder Tenable) and Milin Desai (CEO of Sentry) among others.

The new investment will allow Akto to integrate with all continuous integration and continuous deployment (CI/CD) tools enabling developers to run checks before deploying APIs. Our vision is to enable the 30 million developers and security engineers to secure their APIs in less than 60 seconds.

Ankita Gupta, Co-founder of Akto, said, “We learned that the biggest challenge facing teams seeking API security solutions is that it takes months to try them. We have set out to create a solution that is not only fast to act but super easy to deploy. The plug-and-play element means that our customers can get an instant inventory of APIs within 2 minutes.”

Ankush Jain, Co-founder at Akto, said, “I’ve worked for ten years developing big data applications handling billions of data points at Morgan Stanley and CleverTap. Current solutions give high false positives and to solve this problem I strongly believe that API security testing must be context-aware and should discover deep business logic vulnerabilities. To derive context, we apply AI/ML to analyze all of application traffic. We have built an engine that can process Google-scale traffic (10B requests/day) with 0 performance impact in real-time.”

Prayank Swaroop, Partner at Accel India, said, “Today APIs are pervasive – they are the glue that enables any software to provide rich functionality. However, till recently not much thought was given to securing APIs. Securing APIs requires identifying complex patterns of API misuse – moreover this has to be done in the DevSecOps pipeline following a Shift-Left approach, without taking a lot of time from engineering teams. In the current market, all the solutions overwhelm security teams by throwing a lot of false positives. Akto’s approach and tech addresses all of these problems and provides a reliable, scalable, easy to install & accurate API security solution. We are very excited to be a part of their journey.”.

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